Market Prep Matters: A Return on Your Investment

Whether you’re moving across the country for a new job or want to upgrade to a larger space, Kara and Wayne are here to support throughout the process of preparing your home for sale. We will ensure it makes the best possible impression on the market. Most homes need a bit of design help and staging, and some need more attention. After an initial tour of your property, Kara and Wayne will prepare a customized plan and budget to get your home ready for the market.

We know your home is also an investment and you want to benefit from the best return the market will support. So, is the market preparation work worth it? Yes! A few strategic upgrades can add value to your property and make it show well to buyers. Design updates and staging will appeal to that feeling buyers get when they tour a home. It will make them want to say “this is the one!”. Keep in mind, buyers buy with their heart and not always with their head. This added value can lead to a higher property value and higher list price and ultimately yield a higher sales price. Take a look at a couple of our recent examples.

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Wayne’s recent one-bedroom Coop listing in Kalorama only had an arched opening between the living room and the adjacent bedroom. With no door to the bedroom, the appraiser was inclined to appraise it as a studio. After discussing this with the sellers, they quickly saw the value of adding French doors to the opening. For a small added cost, they also added an arched transom to maintain the architectural integrity of the original 1917 apartment. The cost of the materials and labor was $4,600 and added $10,000 to the appraised value. This structural update combined with a fresh coat of paint and chic staging yielded a full-price offer!

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Kara’s spacious two-bedroom boutique condo listing on Capitol Hill felt a bit dated and drab having been last renovated in 2003. At Kara’s suggestion, the seller chose to make some minor kitchen and bathroom updates, add a fresh coat of paint and invest in professional staging.  This investment of about $6,000 meant that we could list the condo for $10,000 more than we would have without the cosmetic updates. These strategic updates highlighted the large kitchen and allowed this sunny corner unit to shine, ultimately resulting in multiple offers and a sales price of $18,500 above list price.

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